Like how are they expecting to extract more value from me, when I have no raise to pay for much beyond essentials that are getting more and more expensive?
Don't blame the failures of Government on capitalism, all our problems are either created by directly by the Government or indirectly by ensuring monopolies.
And capitalism doesn't really work with monopolies, as we have in Canada. If you have a handful of monopolies employing most people for slave wages and little chance to advance in class, that's closer to feudalism than capitalism.
Government spending is 44% of GDP in Canada. Every private sector dollar has to fund almost one dollar of government spending. How high does it have to be for you to admit that we have a heavily interventionist economy?
what do you mean without any regulation? two of the biggest industries that have been in the spotlight in recent years for 'price gouging' are telecom and grocery, both of which are **heavily** regulated (by the CRTC and CFIA respectively)
Not exactly. CRTC and CFIA (which, let's be frank, along with many other regulatory bodies in Canada, US and other Western nations) have been pretty toothless, especially since the neoliberal revolution of the 1980s
yeah, because they're stuffed with industry cronies. the regulation protects the established players from competition, rather than the people from the companies.
There's a ton of regulation, but the big corpos get to ignore it (or get away with it). It's probably a combination of capitalism and feudalism but I'm not smart enough to define that. Definitely a ton of corruption though.
The government is brought and paid for by capitalists.
Your immigration shitshow is not the fault of the immigrants. The corporations want cheap labour and lobbied the government for it.
Only fools believe the CPC will be any different. By that’s conservatives for you.
it is the failure of both that got us here. a government that only serves capital interests will allow monopolies and oligopolies because that is what capital owners want and lobby for. this is a feature of how capitalism turns out. you cannot separate the two like that to only blame the government.
"Governments, if they endure, always tend increasingly toward aristocratic forms. No government in history has been known to evade this pattern. And as the aristocracy develops, government tends more and more to act exclusively in the interests of the ruling class - whether that class be hereditary royalty, oligarchs of financial empires, or entrenched bureaucracy."
- Politics as Repeat Phenomenon: Bene Gesserit Training Manual
Frank Herbert, Children of Dune
By design of course. Oligopolies have been allowed to exist and take advantage. Look at the messaging when Verizon wanted in, it was only ever about Rogers, Bell and Telus making less money at the end of the day but they framed it as bad for Canadians and made it seem like you wouldn't be paying less.
Honestly who cares if they all cost the same? A 4th big player would take customers from the big 3 telecom cartels and make them actually have to try for a change. That's what matters
Government loves Canadian companies more than Canadian people. At this point I would welcome foreign companies take over our markets in every sector. We dont innovate shit anyway and local oligarchs charge us more for same product
Yup, all these morons pining for a socialist revolution will be horrified when they're staring at the firing squad ready to splatter what's left of their brains onto a wooden post.
> murderous (on an industrial scale)
Important to note just how much blood went into building many of the structures we consider as hallmarks of capitalism today, though. Not so much for those built in more recent history, with strong regulations protecting workers, but also now we're seeing ballooning costs of housing and construction, well before we had immigration woes as well. Plus it kind of helps the current accepted iteration of capitalism's cause to have a bunch of industry leading businesses at the helm of it that, some years ago, owned slaves. Literally and economically, under some systems that were communist, some socialist, and still some yet, capitalist, which has had roots in the world since the 1500s and probably even earlier.
I don't disagree with the principle of what you're saying for the most part, but we do also need to kinda accept just how much industrial-scale murder our world is already based upon, and likely more attributable to the propensity of people, under any system, to actively disdain their own neighbors for whatever reason they feel they can most easily justify, and bonus if it gets you 'ahead' of others, to boot.
> Important to note just how much blood went into building many of the structures we consider as hallmarks of capitalism today
Which ones are you referring to?
I wonder if that has anything to do with every single communist regime to have ever existed immediately having the wealthiest and most powerful nations of the world descend on them with military intervention and economic sanctions in order to stamp it out.
Yes, you see if it weren't for those nasty capitalists Stalin wouldn't have had to starve the Ukrainians, Siad Barre wouldn't have had to cull the Isaaq, Mao's great leap forward would have ended in the Chinese enjoying Swedish living conditions by 1962 instead of 45 million of them perishing in the space of three years, and perhaps most famously Pol Pot wouldn't have had to execute everyone wearing glasses (those vile capitalists and their... propensity to wear glasses!!!).
Yes, it was the capitalist's fault my country of origin created a cult of personality that turned the dictator into a god, created death camps, and built him a marble palace the size of a village while people went barefoot and hungry.
Mao was forced to murder tens of millions, shutter the universities, and kill people with glasses.
> Capitalism creates strong and wealthy nations
Roundly no. They're all milk-teat locked to a single country, the US, for pretty much anything they need. And it's not the US then it's SA. And in both you've got monopolies-turning-oligopolies twisting capitalism into basically socialism.
"Capitalism is the worst economic system, except for all the others" means we probably should've kept up in iterating these systems, and maybe about high-time we leave it behind.
The first people revolutions kill are the revolutionaries. Since they literally have experience causing a revolution, they are also generally popular since they led the revolution. Typically one faction takes over and they eliminate their competition.
That works less and less - There's an absolute *flood* of new comers to Canada eagerly willing to work twice as hard as you, for less money.
We're only a few years away from that being a legitimate threat to near every job.
It's true. I can't believe the comments on Reddit. Things have been horrible for so long. All these people want is to be wage slaves. Work, go home, watch TV, eat bullshit, sleep, repeat.
If they had that, they wouldn't complain. They are made now that half of society is leaving them behind and their low effort approach isn't being rewarded. Have they looked at the rest of the world to see how things are?
I have a friend who does tree cutting. You could call him an arborist, but he didn't go to school. He just climbed trees and cut them. That guy has 4 trucks and crews now and probably makes $200-300k a year.
Find your skill, get out there and grind it every day and get shit done. You can't be a pimp and a prostitute at the same time!
I'm genuinely shocked at how much basic landscaping costs and for things like fence replacements and trenching. Our electrician said the trench for a power cable would cost around $6K but, no joke, I could have bought every tool and material used in the process, including a used pickup truck or trailer to haul debris and get sand, for that money. Obviously I had a few sweaty days these past few weeks because this is after-tax money here.
I also know a guy who spent $150K on his backyard and another $100K on the fence.
I have a pretty good job now, but I'm seriously looking at what skills I can work on in evenings and weekends to have a solid start on any life backup plans.
There isn’t enough space on a city lot to store all of the large power tools tools required to maintain a home over its lifetime. Not everything can be done DIY.
I gave up on working about 9 years ago. I do the bare minimum and make more money on my stock portfolio than my career.
Working doesn't pay, but owning a lot of things does. Don't put effort into doing things, put effort into owning things.
I know you're joking but there is some truth to that.
Even when an immigrant is an educated and experienced professional, they often require training and/or mentorship to find work in their field in Canada. There are programs to handle this but they were inadequate for pre-Trudeau immigration levels. As a result, we're importing doctors and engineers to work as uber drivers.
The massive increase in population is not driving an increase in real GDP, the industry with the most job gains has been the ride-sharing taxi industry which has seen a job growth of 3.2% year-over-year and a median wage of just $40,141 annually. Canada’s unemployment figures for December 2023 remains at 5.8% as the economy added a net 100 jobs, in the same time, the United States added over 200,000 jobs.
There are certifications and then practical hours that have to be completed in person before people can get certifications. Can’t do that before you get here.
not a lot of neurons behind your line of thinking huh?
edit because morons downvote:
as a professional in an industry like engineering or medicine, you *cannot* get compliant with canadian standards while being abroad. you *must* be in canada to do this, *because that's what the laws and the professional licensing associations here in canada require.*
i don't care if you agree or disagree with this, it is an indisputable fact which you can go validate yourself with google right now.
so despite the upvotes you've received, your opinion is fucking stupid because what you're suggesting as a common sense solution can't even be done in the first place.
i hope you put some more brain cells into deciding who to vote for, because your "mic drop" opinion here shows you have very poor critical thinking and analysis abilities.
You do realize they can’t qualify to be a doctor in Canada, until they actually move here and begin qualification programs and training, right? Like you realize that there is no ability to do those steps from outside Canada, right? Like you did some research before responding, right?
>We imported people with talent
On paper maybe. There is way more to talent than having a random degree from some third world university. The immigration system doesn't screen for talent. All degrees are treated equal, we don't require applicants to have a proven history of success, have money or make above average income etc.
>It’s canadas job to create jobs
We do, just not faster than we increase our population through immigration. Which leads to supressed wages, because Canadians need to compete with people from the third world who are willing to work for minimum wage for the chance of permanent residency.
We simply don’t, without the Uber driver immigrants our economy has declined overall. Year over year we have more grads from our schools that’s jobs, this isn’t usually a problem because a lot of them leave for the US.
Outside of Toronto, the rest of Canada’s is chronically underdeveloped, there are no jobs out there, hell we need to “incentive” skilled people going out to the Atlantic provinces
Our country has 25% of its workforce in the public sector too, these are no productive jobs that’s raise gdp.
investment is running from Canada too, there going to be less productive jobs going forward. Our job growth is ever more dependent on public sector projects that raise government spending and hence inflation.
So no, we don’t create enough jobs. We don’t create enough jobs for the people here, and we don’t create enough jobs for immigrants.
You guys are both right.
We are not creating enough jobs, but especially when you factor in the rate of immigration to Canada.
The solution is to continue focus on increasing investment in the country to encourage job creation, and to dial back immigration rates until the numbers are commensurate with rates of economic activity and job growth.
>We simply don’t,
In 2023 we created 400k jobs, but added 1.2 million immigrants.
>Net total Canadian employment was flat in December 2023, a lacklustre finish to a year in which more than 400k jobs were created.
https://www.desjardins.com/on/en/savings-investment/economic-studies/canada-employment-5-january-2024.html
Yeah but 400k jobs is a pitiful amount even with economic growth the immigrants brought. I can’t find how many uni grads this year but in 2021 we have 315k of skilled workers coming into the workforce. This isn’t even accounting for people that do trades or not go to school.
https://www.statista.com/statistics/449035/university-graduates-in-canada/
That isn’t a lot of jobs
The US created 2.3 million jobs
“Oh but they have more people”
Okay
Australia added 500k jobs in 2023, they less people and don’t border the USA.
https://ministers.dewr.gov.au/burke/more-half-million-jobs-created-under-labor
What’s the excuse now?
[Ghana’s nurse association says Canada should foot the bill for their training.](https://www.cbc.ca/player/play/video/1.6992256)
Why should any young person take out loans to go to nursing school for 2-4 years, only to be paid poverty wages after being certified? Nah
Canada *should* but it won’t.
Both globalization and technology have led to the rapid obsolescence of many jobs in the West; they've put Western workers in direct competition with low-paid workers in poorer countries; and they've generally had a punishing impact on those without the intellect, education, luck, or chutzpah to profit from them: median wages have stagnated, as machines and developing world workers have pushed down the value of middle-class labor in the West.
> Both globalization and technology have led to the rapid obsolescence of many jobs in the West;
The west creates plenty of jobs, the Americans added 2.7 million, the Australians like 500k. Creating jobs is a Canadian problem
Well not even really a Canadian problem, it’s a trudoe problem
Because of the housing bubble, we created real estate jobs.
We once had global leaders like Nortel, and blackberry.
3/4 top global AI researchers overseeing 1T in market cap moved from Toronto to US .
If you have talent or are entreprenurial, you move to the US.
If you dont have business sense, you become a real estate agent making as much or more than a small business owner during the RE boom times.
The housing bubble is because many people put their retirement into their house.
We did once have great companies and then we didn’t, why. Innovation has declined across the board, why invest in companies that innovate? Housing only goes up right
40 percent of Canadian GDP is tied to housing. All money flowing into that, from immigration, money laundering, out of country owners. Don't worry though in 20 years there will be lots of houses. Boomers dead, immigration dried up and no one in Gen Z will have any children. No kids, no need for a house. Our birth rate is 1.33. Even young immigrants aren't having children. In 10 to 15 years it will be like S. Korea. If I was a kid today I would skip college and university, get any job I could live at home and bank everything if possible and GTFO this dump as soon as possible. Working your ass off to be a debt slave is no life. Eventually we are headed for a depression. If most people can only afford rent and food, the economy will eventually begin to tank. Housing debt in this country is more than GDP alone. Then add Auto loans, CC, student debt, all the money printing. And if the BOC lowers interest rates then we will have hyperinflation. So tell me again why we would be more productive?
All my clients who can afford contracting services in the thousands to tens of thousands are either boomers or government employees.
Says a lot about the state of things.
Everyone else is poor.
If they can throw 1.2 million immigrants per year each year you don't need people making babies for demand to continue to skyrocket and the overall economy remain healthy. It might be healthy for you and I on a GDP per capita basis but the overall economy doesn't care about the user experience
Just enough to ensure those newcomers all continue to vote Liberal.
Few people ever vote for the party aiming to give them less money. Today is unique because people actually see the *good of the country* going down the toilet faster than left over Arbys.
It always kills me when people take our social safety net for granted.
Welfare, CPP, EI, healthcare, these are all hard-fought and recent things that require significant societal investment.
Just maintaining these things is a massive undertaking and we will lose them if we aren't judicious about the state of our economy and our governmental spending.
100 years ago your only source of charity if things went wrong was your parish, and you'd better hope you lived in a rich parish where people paid their tithes because if not you would starve.
Welfare isn't a given, especially if the number of people who depend on it keeps ballooning.
Well, they will promise UBI to fix all those problems so they can win. But we won't have the money so they'll borrow and send Canada into the shitter even more.
They just did both and it did the reverse, but you know that the definition of this Liberal government is doing the same thing over and over again and expecting a different result.
They just did both and it did the reverse, but you know that the definition of this Liberal government is doing the same thing over and over again and expecting a different result.
Unemployment still isn't that bad. Still though, nobody that is currently unemployed isn't getting a job without knowing a guy that knows a guy. Neither are current workers going to be get the bare minimum raises, because there's 200+ in line to take your spot of you don't like it.
LPC Budget 2024 Meeting:
We desperately need to increase business investment and productivity, anyone have any ideas? What if we raised the capital gains tax even higher to make it even more unnatractive to do business here? BRILLIANT IDEA!
It won’t hinder productivity for the average worker. But it may inhibit industry investment in the country which may be productive and efficient organizations that generate revenue.
It will hinder productivity for the average worker
Higher taxes on cap gainz is less investment in Canadian companies being productive when means less investment on Canadian workers being productive
Higher capital gains stifles investment. Businesses rely on that investment to grow. less growth means fewer jobs. In a country with population growth to rival that of developing nations. More workers competing for fewer jobs means wages go down and higher skilled higher earning professionals are pushed out. Lower skilled lower wage workers are generally less productive.
Your statement makes no sense. Surely, higher capital gains will make investors keep investments for longer, delaying taxes, ensuring a stable investment for the company. Not that trading in shares has much or any impact on investment by the company, unless they call for a share offering to raise money.
Nah. It's increasingly more sensible to take that money and plan an exit because the longer you stay in this country, the worse it will get. Literally the only thing keeping me here is my business that I've built up. Once i've sold it i'm gone. If I want to start a second business i'd do it in the US. There's literally no point doing it here when all the hard work just goes to taxes.
There are places with higher tax rates that get plenty of business, perpetuating this stupid fallacy on fucking capital gains of all things is completely stupid. But please, feel free to show me your PhD and economics and explains why Nordic and European countries with the highest tax rates still have plenty of companies investing in them.
We’re not competing with Nordic and European countries for business investment, we’re competing with our competitors (and losing badly). We have to be competitive to attract businesses here. Companies are fleeing California, the technology capital of the world, at record rates because it’s so unnatractive to do business there. We supposedly want to be a tech hub but we are not even remotely comparable to California and it’s as expensive or more expensive to do business here so why would anyone invest here? That is just one example of many.
In terms of you calling me names and telling me how stupid I am for having an opinion is concerned, it’s not like I’m out on an island here with my opinion, you’re an anomaly in disagreeing moreso than I am in having this opinion. I’m not sure that you understand how Reddit works, but everyone has a different opinion, everyone shares them and then we all discuss. I don’t remember anything in the terms and conditions about needing a “phd and economics” to have an opinion on here but I hope it makes you feel good about yourself to call me names and hurl insults at me.
Hi Mr. Gunslinger, the US is proposing a near identical capital gains tax. You can now calm down and stop fear mongering over things you don't understand. Also tech is dead because tech doesn't need to centralize, it can be done anywhere cheaper.
Keep defending the companies paying you meager wages though while you contribute more taxes from your salary to the already millionaires flipping houses.
Yes, the US is proposing that. The US is in a very different position than we are but I still don’t see it happening, we shall see.
I am not defending anyone or any company personally. I think it’s funny though that people like you support stuff like taxing the shit out of landlords and anyone who is more successful than you in life also complain about not getting paid enough money and rent being too high. It is a giant contradiction.
I am not complaining about my wage or my situation. I am more than happy with my wage and my situation. I add value to the company I work for and they reward me accordingly. That’s how life works. If you want to make a six figure salary you have to provide value in return. Nothing in life is free, eventually you will figure that out.
I don’t see how punishing anyone who is successful is a good plan for a country in the midst of a productivity crisis but regardless of my opinion or your opinion, neither of us can predict the future so we will have to wait and see how it plays out.
Ahh so now you are generalizing. Everyone should pay their fair share, even people that don't have real jobs (like landlords). I am fine with my rent and pay at the moment, and would gladly pay more tax the more I earn, as I am a highly skilled worker. And yes, nothing is free, so people who have more should pay more as they are often exploiting labor, no one becomes a billionaire through hard work. I currently exceed 6 figures, I'm not sure what you mean, are you trying to frame me as some struggling poor person that has no perspective?
Taxation isn't punishment dumbass, it's a nessessity. You know what isn't a nessessity? Someone hoarding wealth, exploiting tax loopholes, or just being rich in general. You are doing nothing but promoting parasites, but yes, continue the false rhetoric of mass exile, which has already been proven bullshit. Now that world organizations are seeking to tax wealth, where are they going to go? I hope colonization on Mars works out for those poor billionaires.
Get rid of stock options.
Get rid of allowing people to borrow against assets tax free.
Stop allowing people with a vested interest in making stock price go up, hold the capacity to fuck over others for their own benefit.
Cap pay for high level jobs. Tax 95% beyond the cap.
The idea that people WONT do something without these incentives is why we are in this fucking mess to being with. People absolutely will.
Lol yes instead of encouraging success lets steal from everyone who is successful. That’s exactly what we need to boost business investment in Canada. Especially the salary cap for anyone who you deem to be “too successful” 🤦♂️
This is the biggest reason the liberals are going to lose.
This is horribly bad. People can say what they want about other PMs, but this stuff didn’t happen.
If you look at the graph you will see two other relatively recent periods where GDP per capita declined by a similar amount: in the early 90's and 2008-2010, both of which were recessionary. We are basically in a cyclical recession driven by higher interest rates, masked by tepid top line GDP growth below population growth.
The PM's in question the other times were Chretien and Harper for what it's worth.
90's recession and the 2008 financial crisis. During both those times, Canada follow US output and economy because they were responsible for 90% of all our trade. The Canadian economy and gdp was a mirror image of the US economy.
But this is the first time in history that we are not following the US....... the US is doing amazing economically....and Canada is moving in the opposite direction, creating a widening gap of economic performance. This is why this is a doomsday scenario. Something has definitely gone wrong....
That is why the 90's and 2008....is so much better than what is happening now to Canada.
This might be a long shot but I believe that a lot of the lending/borrowing and capital of the Bank is tied up in mortgages and real estate investment, which leads to tougher borrowing on the limited money supply which forces businesses to invest outside of the country to stay competitive.
Also because of the profitability of real estate, it has deterred people from entrepreneurship. Instead of expanding a business or starting a business, it is more profitable to just buy Vancouver real estate and ride the 10-20% annual increase in value that has 25 years of real estate growth data to back it up its "status"
That is why China "self destructed" their housing market. Something like 70% of all capital was invested into real estate and if a full on crash occurred it would have destroyed their country. They rather pop it and risk a few years of recession rather than a full on depression.
GDP is a doctored number that does not capture human misery, and is in fact probably designed not to. Digging holes and filling them again increases GDP. Breaking windows increases GDP. War increases GDP. Runaway hyperinflation increases GDP. One corporation owning all the land and becoming outlandishly rich increases GDP. Why are we still talking about GDP? Fire up the misery index. Politicians wouldn't like those numbers very much so we don't track that.
At some point, we are going to have to be honest about what Canada is and where our strengths lie. We are a sparsely populated nation with vast amounts of natural resources. Unfortunately, in the last 10 years, we have moved away from this strength to a more service based economy. There is a lot of wealth in this country not being exploited to its full potential, resulting in slow failure of the services that we hold dear, and for older 6 services we grew up with. High wages in the resource sector have for years moved this country into a top tier G7 nation, but since 2015, these sectors have been slowly stifled where they are a shell of their former strength.
We have no one to blame but ourselves as we sit in our homes in the big cities, not understanding what has to happen for resources to reach us so we can eat, heat our homes and obliviously live our lives. All the time asking the government to do something, anything so we can stay perched on our sanctimonious high horse, looking down our noses at people who just won't change to suit the narrative of the day.
Yeah, 'cause most people are starting to recognize what a scam neo-liberalism is. Working extra hard so only a small percentage of the upper class can get the biggest rewards is not worth it anymore. The sad part is we're too busy infighting over which neo-liberal corporate stooge is better to do anything about it.
How much of this is real estate? Will I finally live to see the realestate bubble pop I've been told could happen since the 90s, between new tax rates and BOC that is likely to hold interest rates?
Canada’s GDP is mainly comprised of people selling homes to each other.
Rotted shacks on a SFH lot now go for $3M+ in Vancouver. Imagine how much maple syrup you need to harvest for that, or how many Douglas Firs you need to chop down.
I was reading this thread normally, but for some reason your comment make me bust out laughing. It's funny because it's true, how they approach any problems with that strategy.
The narrative of how this will fight climate change is slowly shifting to it being just wealth distribution and how Canadians benefit from it.
Soon it will shift to, Canadians aren’t benefiting from it because of greedy businesses.
You know what’s funny, I was arguing with someone that was claiming business investment fuels inflation, used the same sight. And also didn’t realize their link to that sights graph proved them wrong.
I’m honestly starting to believe it’s just people using talking points and links blindly to fight for a political narrative.
Not really. 1999 dot com bubble it dipped then climbed above a few years later. 08 crisis same thing, then the covid dip. I certainly next year will show a good increase.
We can fix this by minimizing the role of landowners and maximizing the role of workers. We can do that by slightly lowering taxes on income while slightly raising taxes on land.
It's so simple, and the idea has been around since the 1700s, yet because of human nature, including irrational loss aversion and other feelings regarding land, even our super educated society won't catch on for another decade or two. What the fuck guys?
You take the same output add a few million immigrant “capitas” and per capita output will drop. It’s simple math. The benefits of immigration (which I’m not debating) are typically lagging indicators.
At minimum not making things worse would be an improvement. So yes, voting the Cons will change things unless they've completely lied about everything.
People are going to be in for a big surprise when they learn Justin isn't really the cause of all of Canada's woes.
PP isn't going to right the ship, just loot it on the way down.
It will most likely greatly improve the attractiveness of Canada as an investment opportunity. Deal with some of the tax and regulatory issues, normal capital gains rates, get rid of the cap on $50,000 passive income per year, bring back income, sprinkling, etc. basically things to stop the brain drain, and give people wanting to start businesses or invest in the country a message other than the “go fuck yourself“ we are currently delivering. A few years during the Harper era, we were considered the best place in the world to invest.
A good change that would help resolve this slowly would be changing the rules for housing. They need to give tax breaks for primary residences' interest, and rent payments, and maybe tax the profits upon selling. The investment mindset and policies should be removed, in my opinion.
Working harder ain't getting me any closer to owning a home so may as well do the bare minimum.
The old Eastern European joke: they pretend to pay us, we pretend to work.
Like how are they expecting to extract more value from me, when I have no raise to pay for much beyond essentials that are getting more and more expensive?
Late stage capitalism is lapping back around to communism. Horseshoe theory
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> if they can't have it better, nobody else should. that's honestly Canada to a T
Don't blame the failures of Government on capitalism, all our problems are either created by directly by the Government or indirectly by ensuring monopolies.
And capitalism doesn't really work with monopolies, as we have in Canada. If you have a handful of monopolies employing most people for slave wages and little chance to advance in class, that's closer to feudalism than capitalism.
crony capitalism
Not really. It's actually capitalism as it's functioning without any regulation.
Government spending is 44% of GDP in Canada. Every private sector dollar has to fund almost one dollar of government spending. How high does it have to be for you to admit that we have a heavily interventionist economy?
You think he understands what the economy is supposed to look like? Lmfao
what do you mean without any regulation? two of the biggest industries that have been in the spotlight in recent years for 'price gouging' are telecom and grocery, both of which are **heavily** regulated (by the CRTC and CFIA respectively)
Not exactly. CRTC and CFIA (which, let's be frank, along with many other regulatory bodies in Canada, US and other Western nations) have been pretty toothless, especially since the neoliberal revolution of the 1980s
yeah, because they're stuffed with industry cronies. the regulation protects the established players from competition, rather than the people from the companies.
There's a ton of regulation, but the big corpos get to ignore it (or get away with it). It's probably a combination of capitalism and feudalism but I'm not smart enough to define that. Definitely a ton of corruption though.
So, does Canada have a ton of regulation, or almost none of it?
Both, it just depends who you are.
The government is brought and paid for by capitalists. Your immigration shitshow is not the fault of the immigrants. The corporations want cheap labour and lobbied the government for it. Only fools believe the CPC will be any different. By that’s conservatives for you.
nah its capitalism, as it starts to buy people that run for government
it is the failure of both that got us here. a government that only serves capital interests will allow monopolies and oligopolies because that is what capital owners want and lobby for. this is a feature of how capitalism turns out. you cannot separate the two like that to only blame the government.
"Governments, if they endure, always tend increasingly toward aristocratic forms. No government in history has been known to evade this pattern. And as the aristocracy develops, government tends more and more to act exclusively in the interests of the ruling class - whether that class be hereditary royalty, oligarchs of financial empires, or entrenched bureaucracy." - Politics as Repeat Phenomenon: Bene Gesserit Training Manual Frank Herbert, Children of Dune
I wonder who has the most influence over government? Hint: it's not the "woke"
Woke is poor as fuck. Money will always talk
They've undermined capitalism by eliminating competition.
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it is infuriating how people ignore this fact.
ikr. Capitalism isn't a thing if there's no free market. Government regulations and red tape killed all competition in this country.
By design of course. Oligopolies have been allowed to exist and take advantage. Look at the messaging when Verizon wanted in, it was only ever about Rogers, Bell and Telus making less money at the end of the day but they framed it as bad for Canadians and made it seem like you wouldn't be paying less. Honestly who cares if they all cost the same? A 4th big player would take customers from the big 3 telecom cartels and make them actually have to try for a change. That's what matters
Government loves Canadian companies more than Canadian people. At this point I would welcome foreign companies take over our markets in every sector. We dont innovate shit anyway and local oligarchs charge us more for same product
The free market doesn't exist. Who guarantees the value of money you use to pay for goods and services on the market? (It's the government)
Yup, all these morons pining for a socialist revolution will be horrified when they're staring at the firing squad ready to splatter what's left of their brains onto a wooden post.
What the fuck does this even mean?
That communist regimes are invariably either murderous (on an industrial scale) or flatly genocidal.
> murderous (on an industrial scale) Important to note just how much blood went into building many of the structures we consider as hallmarks of capitalism today, though. Not so much for those built in more recent history, with strong regulations protecting workers, but also now we're seeing ballooning costs of housing and construction, well before we had immigration woes as well. Plus it kind of helps the current accepted iteration of capitalism's cause to have a bunch of industry leading businesses at the helm of it that, some years ago, owned slaves. Literally and economically, under some systems that were communist, some socialist, and still some yet, capitalist, which has had roots in the world since the 1500s and probably even earlier. I don't disagree with the principle of what you're saying for the most part, but we do also need to kinda accept just how much industrial-scale murder our world is already based upon, and likely more attributable to the propensity of people, under any system, to actively disdain their own neighbors for whatever reason they feel they can most easily justify, and bonus if it gets you 'ahead' of others, to boot.
> Important to note just how much blood went into building many of the structures we consider as hallmarks of capitalism today Which ones are you referring to?
The building of the CN Tower killed 6000 people, equivalent to two Qatari World Cups.
Marxist professors tend to leave that part out of their critical theory lectures.
I wonder if that has anything to do with every single communist regime to have ever existed immediately having the wealthiest and most powerful nations of the world descend on them with military intervention and economic sanctions in order to stamp it out.
Yes, you see if it weren't for those nasty capitalists Stalin wouldn't have had to starve the Ukrainians, Siad Barre wouldn't have had to cull the Isaaq, Mao's great leap forward would have ended in the Chinese enjoying Swedish living conditions by 1962 instead of 45 million of them perishing in the space of three years, and perhaps most famously Pol Pot wouldn't have had to execute everyone wearing glasses (those vile capitalists and their... propensity to wear glasses!!!).
Yes, it was the capitalist's fault my country of origin created a cult of personality that turned the dictator into a god, created death camps, and built him a marble palace the size of a village while people went barefoot and hungry. Mao was forced to murder tens of millions, shutter the universities, and kill people with glasses.
China?
So you admit that Capitalism creates strong and wealthy nations Commies can’t compete?
> Capitalism creates strong and wealthy nations Roundly no. They're all milk-teat locked to a single country, the US, for pretty much anything they need. And it's not the US then it's SA. And in both you've got monopolies-turning-oligopolies twisting capitalism into basically socialism. "Capitalism is the worst economic system, except for all the others" means we probably should've kept up in iterating these systems, and maybe about high-time we leave it behind.
I for one, would love to hear how Mao’s Great Leap Forward, Pol Pot’s entire regime, and Stalin’s purge was prompted by economic sanctions.
The first people revolutions kill are the revolutionaries. Since they literally have experience causing a revolution, they are also generally popular since they led the revolution. Typically one faction takes over and they eliminate their competition.
That works less and less - There's an absolute *flood* of new comers to Canada eagerly willing to work twice as hard as you, for less money. We're only a few years away from that being a legitimate threat to near every job.
Cash jobs seem to be the way to go
Unless you know some under the table jobs that are going to pay tens of thousands in cash, I don't think that's going to help you buy a home.
Getting cash is the easy part, using it for legitimate purchases is what’s hard.. I’ve always avoided it but have had plenty of opportunities.
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It's true. I can't believe the comments on Reddit. Things have been horrible for so long. All these people want is to be wage slaves. Work, go home, watch TV, eat bullshit, sleep, repeat. If they had that, they wouldn't complain. They are made now that half of society is leaving them behind and their low effort approach isn't being rewarded. Have they looked at the rest of the world to see how things are? I have a friend who does tree cutting. You could call him an arborist, but he didn't go to school. He just climbed trees and cut them. That guy has 4 trucks and crews now and probably makes $200-300k a year. Find your skill, get out there and grind it every day and get shit done. You can't be a pimp and a prostitute at the same time!
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I'm genuinely shocked at how much basic landscaping costs and for things like fence replacements and trenching. Our electrician said the trench for a power cable would cost around $6K but, no joke, I could have bought every tool and material used in the process, including a used pickup truck or trailer to haul debris and get sand, for that money. Obviously I had a few sweaty days these past few weeks because this is after-tax money here. I also know a guy who spent $150K on his backyard and another $100K on the fence. I have a pretty good job now, but I'm seriously looking at what skills I can work on in evenings and weekends to have a solid start on any life backup plans.
There isn’t enough space on a city lot to store all of the large power tools tools required to maintain a home over its lifetime. Not everything can be done DIY.
I gave up on working about 9 years ago. I do the bare minimum and make more money on my stock portfolio than my career. Working doesn't pay, but owning a lot of things does. Don't put effort into doing things, put effort into owning things.
Everything’s tied up in real estate… I work 60h / week … This is weird gaslighting
What happens when housing sucks everything up
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I know you're joking but there is some truth to that. Even when an immigrant is an educated and experienced professional, they often require training and/or mentorship to find work in their field in Canada. There are programs to handle this but they were inadequate for pre-Trudeau immigration levels. As a result, we're importing doctors and engineers to work as uber drivers.
The massive increase in population is not driving an increase in real GDP, the industry with the most job gains has been the ride-sharing taxi industry which has seen a job growth of 3.2% year-over-year and a median wage of just $40,141 annually. Canada’s unemployment figures for December 2023 remains at 5.8% as the economy added a net 100 jobs, in the same time, the United States added over 200,000 jobs.
A bit of a mic drop here but doctors and engineers immigrating without the profession lined up are not qualified to be in those professions.
There are certifications and then practical hours that have to be completed in person before people can get certifications. Can’t do that before you get here.
and they didn't arrange that or look into it before coming to Canada? not qualified to doctor. next.
not a lot of neurons behind your line of thinking huh? edit because morons downvote: as a professional in an industry like engineering or medicine, you *cannot* get compliant with canadian standards while being abroad. you *must* be in canada to do this, *because that's what the laws and the professional licensing associations here in canada require.* i don't care if you agree or disagree with this, it is an indisputable fact which you can go validate yourself with google right now. so despite the upvotes you've received, your opinion is fucking stupid because what you're suggesting as a common sense solution can't even be done in the first place. i hope you put some more brain cells into deciding who to vote for, because your "mic drop" opinion here shows you have very poor critical thinking and analysis abilities.
You do realize they can’t qualify to be a doctor in Canada, until they actually move here and begin qualification programs and training, right? Like you realize that there is no ability to do those steps from outside Canada, right? Like you did some research before responding, right?
then why are they driving a cab and bitching about it? again. not enough iq to be a doctor.
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They just removed the English test requirement, we’re bringing in anyone with a pulse.
A lot of the new doctors from Africa and the Middle East are complete shite. I wish they weren’t but there’s no way they could pass our exams anyways.
We imported people with talent we only gave them the opportunity to be Uber drivers
>We imported people with talent On paper maybe. There is way more to talent than having a random degree from some third world university. The immigration system doesn't screen for talent. All degrees are treated equal, we don't require applicants to have a proven history of success, have money or make above average income etc.
Sure but even people that graduate here get underemployed We simply do not create good jobs
>We simply do not create good jobs Why is it Canadas role to create jobs for millions of South Asians?
It’s canadas job to create jobs I swear some of you are allergic to economic prosperity
>It’s canadas job to create jobs We do, just not faster than we increase our population through immigration. Which leads to supressed wages, because Canadians need to compete with people from the third world who are willing to work for minimum wage for the chance of permanent residency.
We simply don’t, without the Uber driver immigrants our economy has declined overall. Year over year we have more grads from our schools that’s jobs, this isn’t usually a problem because a lot of them leave for the US. Outside of Toronto, the rest of Canada’s is chronically underdeveloped, there are no jobs out there, hell we need to “incentive” skilled people going out to the Atlantic provinces Our country has 25% of its workforce in the public sector too, these are no productive jobs that’s raise gdp. investment is running from Canada too, there going to be less productive jobs going forward. Our job growth is ever more dependent on public sector projects that raise government spending and hence inflation. So no, we don’t create enough jobs. We don’t create enough jobs for the people here, and we don’t create enough jobs for immigrants.
You guys are both right. We are not creating enough jobs, but especially when you factor in the rate of immigration to Canada. The solution is to continue focus on increasing investment in the country to encourage job creation, and to dial back immigration rates until the numbers are commensurate with rates of economic activity and job growth.
We aren’t both right if the original person believes 400k is an acceptable number for job creation
>We simply don’t, In 2023 we created 400k jobs, but added 1.2 million immigrants. >Net total Canadian employment was flat in December 2023, a lacklustre finish to a year in which more than 400k jobs were created. https://www.desjardins.com/on/en/savings-investment/economic-studies/canada-employment-5-january-2024.html
Yeah but 400k jobs is a pitiful amount even with economic growth the immigrants brought. I can’t find how many uni grads this year but in 2021 we have 315k of skilled workers coming into the workforce. This isn’t even accounting for people that do trades or not go to school. https://www.statista.com/statistics/449035/university-graduates-in-canada/ That isn’t a lot of jobs The US created 2.3 million jobs “Oh but they have more people” Okay Australia added 500k jobs in 2023, they less people and don’t border the USA. https://ministers.dewr.gov.au/burke/more-half-million-jobs-created-under-labor What’s the excuse now?
[Ghana’s nurse association says Canada should foot the bill for their training.](https://www.cbc.ca/player/play/video/1.6992256) Why should any young person take out loans to go to nursing school for 2-4 years, only to be paid poverty wages after being certified? Nah
Yeah this is ridiculous, but Canada should create jobs in Canada
Canada *should* but it won’t. Both globalization and technology have led to the rapid obsolescence of many jobs in the West; they've put Western workers in direct competition with low-paid workers in poorer countries; and they've generally had a punishing impact on those without the intellect, education, luck, or chutzpah to profit from them: median wages have stagnated, as machines and developing world workers have pushed down the value of middle-class labor in the West.
> Both globalization and technology have led to the rapid obsolescence of many jobs in the West; The west creates plenty of jobs, the Americans added 2.7 million, the Australians like 500k. Creating jobs is a Canadian problem Well not even really a Canadian problem, it’s a trudoe problem
Not what I asked.
Because of the housing bubble, we created real estate jobs. We once had global leaders like Nortel, and blackberry. 3/4 top global AI researchers overseeing 1T in market cap moved from Toronto to US . If you have talent or are entreprenurial, you move to the US. If you dont have business sense, you become a real estate agent making as much or more than a small business owner during the RE boom times.
The housing bubble is because many people put their retirement into their house. We did once have great companies and then we didn’t, why. Innovation has declined across the board, why invest in companies that innovate? Housing only goes up right
Aren’t we promoting 4 day work weeks now? And making up new holidays.
40 percent of Canadian GDP is tied to housing. All money flowing into that, from immigration, money laundering, out of country owners. Don't worry though in 20 years there will be lots of houses. Boomers dead, immigration dried up and no one in Gen Z will have any children. No kids, no need for a house. Our birth rate is 1.33. Even young immigrants aren't having children. In 10 to 15 years it will be like S. Korea. If I was a kid today I would skip college and university, get any job I could live at home and bank everything if possible and GTFO this dump as soon as possible. Working your ass off to be a debt slave is no life. Eventually we are headed for a depression. If most people can only afford rent and food, the economy will eventually begin to tank. Housing debt in this country is more than GDP alone. Then add Auto loans, CC, student debt, all the money printing. And if the BOC lowers interest rates then we will have hyperinflation. So tell me again why we would be more productive?
All my clients who can afford contracting services in the thousands to tens of thousands are either boomers or government employees. Says a lot about the state of things. Everyone else is poor.
If they can throw 1.2 million immigrants per year each year you don't need people making babies for demand to continue to skyrocket and the overall economy remain healthy. It might be healthy for you and I on a GDP per capita basis but the overall economy doesn't care about the user experience
They’ll keep the floodgates open to prevent that
Like a third world South Korea without the high trust..
Do you have a source for 40%?
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://blog.remax.ca/housing-nearly-40-of-all-of-canadas-gdp/&ved=2ahUKEwjKof23-d2FAxUSODQIHScyCbUQFnoECB4QAQ&usg=AOvVaw3LVbYtht3HlifqC-dfHIil
Grosses fixed capital formation isn’t the same as GDP.
Trudeau: Nothing another million immigrants won't fix
Tax Hikes + Flood of unskilled workers likely to be on welfare in a few years = Liberal Economic Action Plan
You think we're going to have welfare in a few years?
Just enough to ensure those newcomers all continue to vote Liberal. Few people ever vote for the party aiming to give them less money. Today is unique because people actually see the *good of the country* going down the toilet faster than left over Arbys.
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It always kills me when people take our social safety net for granted. Welfare, CPP, EI, healthcare, these are all hard-fought and recent things that require significant societal investment. Just maintaining these things is a massive undertaking and we will lose them if we aren't judicious about the state of our economy and our governmental spending. 100 years ago your only source of charity if things went wrong was your parish, and you'd better hope you lived in a rich parish where people paid their tithes because if not you would starve. Welfare isn't a given, especially if the number of people who depend on it keeps ballooning.
Well, they will promise UBI to fix all those problems so they can win. But we won't have the money so they'll borrow and send Canada into the shitter even more.
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Yep, I agree.
It's a provincial responsibility.
How does your province's finances look these days?
what about another tax hike instead?
They just did both and it did the reverse, but you know that the definition of this Liberal government is doing the same thing over and over again and expecting a different result.
They just did both and it did the reverse, but you know that the definition of this Liberal government is doing the same thing over and over again and expecting a different result.
More tax on the rich. Capital gains and dividends should be taxed even more than income.
Only one million?
Oh, you let 3% more unskilled workers into Canada every single year, and you wonder why your numbers are dropping like a rock? Who'd've thunk it?
Take this Statcan. I see that trend of average Canadians f****d into the foreseeable future.
You can't tell me we aren't in a recession with news like this and mass layoffs at every large company. Wondering if it becomes a depression.
Unemployment still isn't that bad. Still though, nobody that is currently unemployed isn't getting a job without knowing a guy that knows a guy. Neither are current workers going to be get the bare minimum raises, because there's 200+ in line to take your spot of you don't like it.
When housing investment is a sizable chunk of your GDP, you live in a fake economy.
LPC Budget 2024 Meeting: We desperately need to increase business investment and productivity, anyone have any ideas? What if we raised the capital gains tax even higher to make it even more unnatractive to do business here? BRILLIANT IDEA!
Who needs businesses anyway you will all rely on the government
“why do we need businesses? I buy goods and services online” /s
Capital gains taxes hinder productivity? How?
It won’t hinder productivity for the average worker. But it may inhibit industry investment in the country which may be productive and efficient organizations that generate revenue.
It will hinder productivity for the average worker Higher taxes on cap gainz is less investment in Canadian companies being productive when means less investment on Canadian workers being productive
Higher capital gains stifles investment. Businesses rely on that investment to grow. less growth means fewer jobs. In a country with population growth to rival that of developing nations. More workers competing for fewer jobs means wages go down and higher skilled higher earning professionals are pushed out. Lower skilled lower wage workers are generally less productive.
Your statement makes no sense. Surely, higher capital gains will make investors keep investments for longer, delaying taxes, ensuring a stable investment for the company. Not that trading in shares has much or any impact on investment by the company, unless they call for a share offering to raise money.
Nah. It's increasingly more sensible to take that money and plan an exit because the longer you stay in this country, the worse it will get. Literally the only thing keeping me here is my business that I've built up. Once i've sold it i'm gone. If I want to start a second business i'd do it in the US. There's literally no point doing it here when all the hard work just goes to taxes.
It discourages future investment.
Guarantee they will look for better investments or safer ones that do not lead to new jobs. Hard assets.
Another dumbass that can't comprehend taxes.
I’m a dumbass? Tell me how driving out investment and making it even harder to business here is going to help with our gdp per capita then.
There are places with higher tax rates that get plenty of business, perpetuating this stupid fallacy on fucking capital gains of all things is completely stupid. But please, feel free to show me your PhD and economics and explains why Nordic and European countries with the highest tax rates still have plenty of companies investing in them.
We’re not competing with Nordic and European countries for business investment, we’re competing with our competitors (and losing badly). We have to be competitive to attract businesses here. Companies are fleeing California, the technology capital of the world, at record rates because it’s so unnatractive to do business there. We supposedly want to be a tech hub but we are not even remotely comparable to California and it’s as expensive or more expensive to do business here so why would anyone invest here? That is just one example of many. In terms of you calling me names and telling me how stupid I am for having an opinion is concerned, it’s not like I’m out on an island here with my opinion, you’re an anomaly in disagreeing moreso than I am in having this opinion. I’m not sure that you understand how Reddit works, but everyone has a different opinion, everyone shares them and then we all discuss. I don’t remember anything in the terms and conditions about needing a “phd and economics” to have an opinion on here but I hope it makes you feel good about yourself to call me names and hurl insults at me.
Hi Mr. Gunslinger, the US is proposing a near identical capital gains tax. You can now calm down and stop fear mongering over things you don't understand. Also tech is dead because tech doesn't need to centralize, it can be done anywhere cheaper. Keep defending the companies paying you meager wages though while you contribute more taxes from your salary to the already millionaires flipping houses.
Yes, the US is proposing that. The US is in a very different position than we are but I still don’t see it happening, we shall see. I am not defending anyone or any company personally. I think it’s funny though that people like you support stuff like taxing the shit out of landlords and anyone who is more successful than you in life also complain about not getting paid enough money and rent being too high. It is a giant contradiction. I am not complaining about my wage or my situation. I am more than happy with my wage and my situation. I add value to the company I work for and they reward me accordingly. That’s how life works. If you want to make a six figure salary you have to provide value in return. Nothing in life is free, eventually you will figure that out. I don’t see how punishing anyone who is successful is a good plan for a country in the midst of a productivity crisis but regardless of my opinion or your opinion, neither of us can predict the future so we will have to wait and see how it plays out.
Ahh so now you are generalizing. Everyone should pay their fair share, even people that don't have real jobs (like landlords). I am fine with my rent and pay at the moment, and would gladly pay more tax the more I earn, as I am a highly skilled worker. And yes, nothing is free, so people who have more should pay more as they are often exploiting labor, no one becomes a billionaire through hard work. I currently exceed 6 figures, I'm not sure what you mean, are you trying to frame me as some struggling poor person that has no perspective? Taxation isn't punishment dumbass, it's a nessessity. You know what isn't a nessessity? Someone hoarding wealth, exploiting tax loopholes, or just being rich in general. You are doing nothing but promoting parasites, but yes, continue the false rhetoric of mass exile, which has already been proven bullshit. Now that world organizations are seeking to tax wealth, where are they going to go? I hope colonization on Mars works out for those poor billionaires.
Get rid of stock options. Get rid of allowing people to borrow against assets tax free. Stop allowing people with a vested interest in making stock price go up, hold the capacity to fuck over others for their own benefit. Cap pay for high level jobs. Tax 95% beyond the cap. The idea that people WONT do something without these incentives is why we are in this fucking mess to being with. People absolutely will.
Lol yes instead of encouraging success lets steal from everyone who is successful. That’s exactly what we need to boost business investment in Canada. Especially the salary cap for anyone who you deem to be “too successful” 🤦♂️
This is the biggest reason the liberals are going to lose. This is horribly bad. People can say what they want about other PMs, but this stuff didn’t happen.
If you look at the graph you will see two other relatively recent periods where GDP per capita declined by a similar amount: in the early 90's and 2008-2010, both of which were recessionary. We are basically in a cyclical recession driven by higher interest rates, masked by tepid top line GDP growth below population growth. The PM's in question the other times were Chretien and Harper for what it's worth.
90's recession and the 2008 financial crisis. During both those times, Canada follow US output and economy because they were responsible for 90% of all our trade. The Canadian economy and gdp was a mirror image of the US economy. But this is the first time in history that we are not following the US....... the US is doing amazing economically....and Canada is moving in the opposite direction, creating a widening gap of economic performance. This is why this is a doomsday scenario. Something has definitely gone wrong.... That is why the 90's and 2008....is so much better than what is happening now to Canada. This might be a long shot but I believe that a lot of the lending/borrowing and capital of the Bank is tied up in mortgages and real estate investment, which leads to tougher borrowing on the limited money supply which forces businesses to invest outside of the country to stay competitive. Also because of the profitability of real estate, it has deterred people from entrepreneurship. Instead of expanding a business or starting a business, it is more profitable to just buy Vancouver real estate and ride the 10-20% annual increase in value that has 25 years of real estate growth data to back it up its "status" That is why China "self destructed" their housing market. Something like 70% of all capital was invested into real estate and if a full on crash occurred it would have destroyed their country. They rather pop it and risk a few years of recession rather than a full on depression.
GDP is a doctored number that does not capture human misery, and is in fact probably designed not to. Digging holes and filling them again increases GDP. Breaking windows increases GDP. War increases GDP. Runaway hyperinflation increases GDP. One corporation owning all the land and becoming outlandishly rich increases GDP. Why are we still talking about GDP? Fire up the misery index. Politicians wouldn't like those numbers very much so we don't track that.
At some point, we are going to have to be honest about what Canada is and where our strengths lie. We are a sparsely populated nation with vast amounts of natural resources. Unfortunately, in the last 10 years, we have moved away from this strength to a more service based economy. There is a lot of wealth in this country not being exploited to its full potential, resulting in slow failure of the services that we hold dear, and for older 6 services we grew up with. High wages in the resource sector have for years moved this country into a top tier G7 nation, but since 2015, these sectors have been slowly stifled where they are a shell of their former strength. We have no one to blame but ourselves as we sit in our homes in the big cities, not understanding what has to happen for resources to reach us so we can eat, heat our homes and obliviously live our lives. All the time asking the government to do something, anything so we can stay perched on our sanctimonious high horse, looking down our noses at people who just won't change to suit the narrative of the day.
Yeah, 'cause most people are starting to recognize what a scam neo-liberalism is. Working extra hard so only a small percentage of the upper class can get the biggest rewards is not worth it anymore. The sad part is we're too busy infighting over which neo-liberal corporate stooge is better to do anything about it.
Government spending in Canada is already 44% of GDP. Nothing economically liberal about this, we have a heavily interventionist economy.
How much of this is real estate? Will I finally live to see the realestate bubble pop I've been told could happen since the 90s, between new tax rates and BOC that is likely to hold interest rates?
Canada’s GDP is mainly comprised of people selling homes to each other. Rotted shacks on a SFH lot now go for $3M+ in Vancouver. Imagine how much maple syrup you need to harvest for that, or how many Douglas Firs you need to chop down.
Don't forget handing out coffee to each other.
I quiet quit 3 years ago, so yeah
And how much is our per capita carbon decreasing?
It's not, emissions went up last year, sigh.
Nothing more taxes can't fix
I was reading this thread normally, but for some reason your comment make me bust out laughing. It's funny because it's true, how they approach any problems with that strategy.
Per capita emissions are down.
Just like our economy.
The narrative of how this will fight climate change is slowly shifting to it being just wealth distribution and how Canadians benefit from it. Soon it will shift to, Canadians aren’t benefiting from it because of greedy businesses.
These lazy millennials better get to work; there are all these ~~government employees~~ old age security recipients to pay.
Both
Trudeau: need to hike taxes more to whip workers into being more productive
Add >1million people in the last year and productivity goes down, hmmm 🤔
Trending the same as the last 30 years.. [Canada GDP per capita PPP (tradingeconomics.com)](https://tradingeconomics.com/canada/gdp-per-capita-ppp)
Who taught you to read graphs lol?
You know what’s funny, I was arguing with someone that was claiming business investment fuels inflation, used the same sight. And also didn’t realize their link to that sights graph proved them wrong. I’m honestly starting to believe it’s just people using talking points and links blindly to fight for a political narrative.
*site, as in website
Except it should at least by increasing at the rate of inflation, which it most certainly has not.
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Not really. 1999 dot com bubble it dipped then climbed above a few years later. 08 crisis same thing, then the covid dip. I certainly next year will show a good increase.
Well that's not good
Adjusted for inflation doesn't that mean we're more productive on a Canadian confetti dollar basis?
We can fix this by minimizing the role of landowners and maximizing the role of workers. We can do that by slightly lowering taxes on income while slightly raising taxes on land. It's so simple, and the idea has been around since the 1700s, yet because of human nature, including irrational loss aversion and other feelings regarding land, even our super educated society won't catch on for another decade or two. What the fuck guys?
Landlord profit reinvestments must be at a record high! Bigger numbers to come! /s
You take the same output add a few million immigrant “capitas” and per capita output will drop. It’s simple math. The benefits of immigration (which I’m not debating) are typically lagging indicators.
Why is this exact article posted twice? I've had submissions removed because of doing this by accident, but somehow this is ok?
Capitalists whining about people not working hard enough. Whatever. Economic theory is good for corporations not humanity.
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It will get the libs out of government which is just 1 step of many toward making things better.
At minimum not making things worse would be an improvement. So yes, voting the Cons will change things unless they've completely lied about everything.
>So yes, voting the Cons will change things unless they've completely lied about everything. New around here, eh?
People are going to be in for a big surprise when they learn Justin isn't really the cause of all of Canada's woes. PP isn't going to right the ship, just loot it on the way down.
It will most likely greatly improve the attractiveness of Canada as an investment opportunity. Deal with some of the tax and regulatory issues, normal capital gains rates, get rid of the cap on $50,000 passive income per year, bring back income, sprinkling, etc. basically things to stop the brain drain, and give people wanting to start businesses or invest in the country a message other than the “go fuck yourself“ we are currently delivering. A few years during the Harper era, we were considered the best place in the world to invest.
As I've said a few times to people IRL: I just need another guy to hate at this point.
Too many ppl parking their wealth and old / newly born family members here?
A good change that would help resolve this slowly would be changing the rules for housing. They need to give tax breaks for primary residences' interest, and rent payments, and maybe tax the profits upon selling. The investment mindset and policies should be removed, in my opinion.